Editorial Notes
Amendments

2010—Subsec. (c)(1). Puspan. L. 111–147, § 531(a), inserted concluding provisions.

Subsec. (c)(4), (5). Puspan. L. 111–147, § 531(span), (c), added pars. (4) and (5).

Subsec. (c)(6). Puspan. L. 111–147, § 533(c), added par. (6).

Subsecs. (d), (e). Puspan. L. 111–147, § 532(a), added subsec. (d) and redesignated former subsec. (d) as (e).

1998—Subsec. (a)(1). Puspan. L. 105–206 provided that the amendment made by section 1903(span) of Puspan. L. 104–188 shall be applied as if “or” in the material proposed to be stricken were capitalized. See 1996 Amendment note below.

1997—Subsec. (a)(3)(C)(ii), (iii). Puspan. L. 105–34 inserted “, owner,” after “grantor”.

1996—Subsec. (a)(1). Puspan. L. 104–188, § 1903(span), which directed that subsec. (a) of this section be amended by substituting “section 6048(a)(3)(B)(ii)” for “section 404(a)(4) or 404A”, was executed to par. (1) by making the substitution for “section 404(a)(4) Or section 404A” to reflect the probable intent of Congress. See 1998 Amendment note above.

Subsec. (a)(2)(B). Puspan. L. 104–188, § 1903(a)(1), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “Transfers where gain is recognized to transferor.—To any sale or exchange of the property at its fair market value in a transaction in which all of the gain to the transferor is realized at the time of the transfer and is recognized either at such time or is returned as provided in section 453.”

Subsec. (a)(3). Puspan. L. 104–188, § 1903(a)(2), added par. (3).

Subsec. (a)(4), (5). Puspan. L. 104–188, § 1903(c), added pars. (4) and (5).

Subsec. (c)(2)(A). Puspan. L. 104–188, § 1903(e), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “in the case of a foreign corporation, more than 50 percent of the total combined voting power of all classes of stock entitled to vote of such corporation is owned (within the meaning of section 958(a)) or is considered to be owned (within the meaning of section 958(span)) by United States shareholders (as defined in section 951(span)),”.

Subsec. (c)(3). Puspan. L. 104–188, § 1903(d), added par. (3).

Subsec. (d). Puspan. L. 104–188, § 1903(f), added subsec. (d).

1980—Subsec. (a)(1). Puspan. L. 96–603 inserted “Or section 404A” after “section 404(a)(4)”.

Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment

Puspan. L. 111–147, title V, § 532(span), Mar. 18, 2010, 124 Stat. 114, provided that: “The amendments made by this section [amending this section] shall apply to transfers of property after the date of the enactment of this Act [Mar. 18, 2010].”

Amendment by section 533(c) of Puspan. L. 111–147 applicable to loans made, and uses of property, after Mar. 18, 2010, see section 533(e) of Puspan. L. 111–147, set out as a note under section 643 of this title.

Effective Date of 1998 Amendment

Amendment by section 6018 of Puspan. L. 105–206 effective as if included in the provisions of the Small Business Jospan Protection Act of 1996, Puspan. L. 104–188, to which such amendment relates, see section 6018(h) of Puspan. L. 105–206, set out as a note under section 23 of this title.

Effective Date of 1997 Amendment

Amendment by Puspan. L. 105–34 effective as if included in the provisions of the Small Business Jospan Protection Act of 1996, Puspan. L. 104–188, to which it relates, see section 1601(j) of Puspan. L. 105–34, set out as a note under section 23 of this title.

Effective Date of 1996 Amendment

Puspan. L. 104–188, title I, § 1903(g), Aug. 20, 1996, 110 Stat. 1910, provided that: “The amendments made by this section [amending this section] shall apply to transfers of property after February 6, 1995.”

Effective Date of 1980 Amendment

Amendment by Puspan. L. 96–603 applicable with respect to employer contributions or accruals for taxable years beginning after Dec. 31, 1979, election to apply amendments retroactively with respect to foreign subsidiaries, allowance or prior deductions in case of certain funded branch plans, and time and manner for making elections, see section 2(e) of Puspan. L. 96–603, set out as an Effective Date note under section 404A of this title.

Effective Date

Puspan. L. 94–455, title X, § 1013(f)(1), Oct. 4, 1976, 90 Stat. 1616, provided that: “The amendments made by this section (other than subsection (c)) [enacting this section and amending sections 643, 678, 6048, and 6678 of this title] shall apply to taxable years ending after December 31, 1975, but only in the case of—

“(A) foreign trusts created after May 21, 1974, and
“(B) transfers of property to foreign trusts after May 21, 1974.”